A chain of jewellery shops has gone into administration, with the loss of of more than 80 jobs.
Chard-based Hi Ho Silver had 16 shops across the South West, including in Yeovil, Taunton and Bath, which have all closed.
The former management team has bought some assets and is operating online.
Andrew Sheridan, from the administrators Baker Tilly, said retail was still suffering very badly.
Mr Sheridan said: "The experts that talk about retail and all the latest indices and statistics show it's still suffering very badly.
"I think if you're in outlying towns, particularly Somerset towns, you've got relatively small shops and when you've got a number of them, the overheads are substantial and yet it's difficult to effect the sales.
"People just don't want to part with their cash, people are saving at the moment."